Real Estate

Courses

REA 1200. Real Estate Broker Pre-License I. 6 hrs.

This course provides students with instruction in real estate fundamentals. Students are required to attend all sessions which include introduction to the license law and real property, basics of agency, seller and buyer relationships and counseling, local, state and federal laws, brokerage, property management, leases, independent contractor and employee status, financing, contracts and title records, transactions, etc. This course is appropriate and required for anyone interested in obtaining a broker license in Illinois. This course fulfills the education requirements for obtaining an Illinois Real Estate Broker license. Offered in partnership with the Illinois Realtors Licensing and Training Center and Illini Valley Association of Realtors. Please note: If you have any disabilities that require special accommodations, please identify those special needs.

REA 1201. Real Estate Broker Pre-Licensing II. 3 hrs.

This course provides students with instruction in real estate fundamentals. Students are required to attend all sessions which include real estate contracts, title records and transfers, real estate financing principles and practices, closing transactions, commerical property, and interactive activities. This course is appropriate and required for anyone interested in obtaining a real estate broker license in Illinois. This course, along with REA 1200, fulfills the education requirements for obtaining an Illinois Real Estate Broker license.

REA 1202. Advanced Real Estate Principles. 1 hr.

This course will cover listings, title search, completion of contract form, broker relationship, Illinois Real Estate License Act of 1983, and completion of applications for licenses. This course is graded on a pass/fail basis. A required course in the Real Estate brokerage sequence.

REA 1203. Real Estate Appraisal. 1 hr.

Topics covered will include: real estate property value, appraisal process, economic trends, basic property value principles, depreciation and obsolescence, future life estimates, and market approach to value. This course is graded on a pass/fail basis. An elective course in the real estate brokerage sequence.

REA 1204. Property Management. 1 hr.

This course will cover property modernization, rental and expense schedules, financial structure and budget, leases, property insurance, purchasing, commercial property, industrial property, project management, management control and advertising. This course will be graded on a pass/fail basis. An elective course in the real estate brokerage sequence.

REA 1205. Financing. 1 hr.

This course will cover types of financing, sources of financing, mortgages, trust deed, mortgage notes, prior liens, foreclosure, insurance, and mortgage risk. This course will be graded on a pass/fail basis. An elective course in the real estate brokerage sequence.

REA 1206. Sales and Brokerage. 1 hr.

This course will cover: qualifications of the broker, appraisal principles and methods, training and supervision of salespersons, types of sources of listings, and governmental regulations. This course will be graded on a pass/fail basis. An elective course in the real estate brokerage sequence.

REA 1207. Farm Management. 1 hr.

This course will cover: inventorying the assets, methods of farm operation, budgeting cash flow, planning crop production, livestock production, and marketing. This course will be graded on a pass/fail basis. An elective course in the real estate brokerage sequence.

REA 1208. Illinois Property Insurance. 1 hr.

This course will cover: the nature of functions of insurance, property insurance, dwelling coverage, homeowners' policy, burglary and theft insurance, private mortgage insurance. Commercial and industrial insurance. This course will be graded on a pass/fail basis. An elective course in the real estate brokerage sequence.

REA 1209. Refresh Crse for Licensed Reinstatement. 1 hr.

This course will cover: review of Illinois Real Estate License Act of 1983 courty decisions, broker-lawyer accord changes, contract law law changes, transfer of title, and changes in taxes, liens, and enforcement. This course will be graded on a pass/fail basis. An elective course in the real estate brokerage sequence.

REA 1210. Brokerage Administration. 1 hr.

This course is a required course in the brokerage prelicense education sequence (effective 01/01/2000). Topics covered include types, functions, and responsbilities of brokerage; escrow; accounting; and record-keeping; agency obligations; and real estate license law.